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New York State Common approves $500m in commitments

The US public pension has backed two diversified real estate vehicles.

Institution: New York State Common Retirement Fund
Headquarters: Albany, United States
AUM: $210.28bn
Allocation to alternatives: 18.70%
Bitesize: $100-200m

New York State Common Retirement Fund has agreed to commit $300 million to Star Lake Fund III and $200 million to EPNY Ventures I, according to the pension’s latest monthly report. The two opportunistic vehicles managed by JP Morgan Asset Management and Ellis Partners are both North America-focused.

The $210.28 billion US public pension has an 8.0 percent target allocation to real estate which currently stands at 7.30 percent.

As illustrated below, New York State Common Retirement Fund has made four commitments to real estate vehicles with a 2019 vintage, which combined constitute $1.10 billion.

Platinum subscribers may click here for the pension’s full profile, including key contacts, allocation strategy and fund investments.